$BBSI
BARRETT BUSINESS SERVICES INC

2015 Q2 Form 10-Q Financial Statement

#000119312515282815 Filed on August 07, 2015

View on sec.gov

Income Statement

Concept 2015 Q2
Revenue $182.0M
YoY Change 20.66%
Cost Of Revenue $145.5M
YoY Change -28.57%
Gross Profit $36.48M
YoY Change -168.99%
Gross Profit Margin 20.05%
Selling, General & Admin $21.43M
YoY Change 19.33%
% of Gross Profit 58.74%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $700.0K
YoY Change 16.67%
% of Gross Profit 1.92%
Operating Expenses $21.43M
YoY Change 19.33%
Operating Profit $14.34M
YoY Change -120.07%
Interest Expense $562.0K
YoY Change 1177.27%
% of Operating Profit 3.92%
Other Income/Expense, Net -$398.0K
YoY Change -465.14%
Pretax Income $13.94M
YoY Change -119.54%
Income Tax $5.040M
% Of Pretax Income 36.15%
Net Earnings $8.902M
YoY Change -122.38%
Net Earnings / Revenue 4.89%
Basic Earnings Per Share $1.24
Diluted Earnings Per Share $1.21
COMMON SHARES
Basic Shares Outstanding 7.151M shares
Diluted Shares Outstanding 7.327M shares

Balance Sheet

Concept 2015 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $4.400M
YoY Change -94.49%
Cash & Equivalents $4.439M
Short-Term Investments $0.00
Other Short-Term Assets $68.80M
YoY Change 384.51%
Inventory
Prepaid Expenses
Receivables $137.9M
Other Receivables $8.700M
Total Short-Term Assets $223.5M
YoY Change -5.28%
LONG-TERM ASSETS
Property, Plant & Equipment $22.65M
YoY Change 3.96%
Goodwill $47.82M
YoY Change 0.0%
Intangibles
YoY Change
Long-Term Investments $6.000M
YoY Change -43.4%
Other Assets $4.840M
YoY Change 21.64%
Total Long-Term Assets $271.5M
YoY Change 94.18%
TOTAL ASSETS
Total Short-Term Assets $223.5M
Total Long-Term Assets $271.5M
Total Assets $495.0M
YoY Change 31.73%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.419M
YoY Change -0.66%
Accrued Expenses $206.6M
YoY Change 41.6%
Deferred Revenue
YoY Change
Short-Term Debt $3.200M
YoY Change
Long-Term Debt Due $27.22M
YoY Change 12272.73%
Total Short-Term Liabilities $262.0M
YoY Change 48.25%
LONG-TERM LIABILITIES
Long-Term Debt $14.72M
YoY Change 197.86%
Other Long-Term Liabilities $170.6M
YoY Change 99.77%
Total Long-Term Liabilities $14.72M
YoY Change 197.86%
TOTAL LIABILITIES
Total Short-Term Liabilities $262.0M
Total Long-Term Liabilities $14.72M
Total Liabilities $460.5M
YoY Change 29.25%
SHAREHOLDERS EQUITY
Retained Earnings $28.30M
YoY Change 106.49%
Common Stock $6.245M
YoY Change 6.39%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $34.54M
YoY Change
Total Liabilities & Shareholders Equity $495.0M
YoY Change 31.73%

Cashflow Statement

Concept 2015 Q2
OPERATING ACTIVITIES
Net Income $8.902M
YoY Change -122.38%
Depreciation, Depletion And Amortization $700.0K
YoY Change 16.67%
Cash From Operating Activities $7.100M
YoY Change 610.0%
INVESTING ACTIVITIES
Capital Expenditures -$700.0K
YoY Change 16.67%
Acquisitions
YoY Change
Other Investing Activities -$10.50M
YoY Change -37.13%
Cash From Investing Activities -$11.10M
YoY Change -36.21%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -6.700M
YoY Change 235.0%
NET CHANGE
Cash From Operating Activities 7.100M
Cash From Investing Activities -11.10M
Cash From Financing Activities -6.700M
Net Change In Cash -10.70M
YoY Change -41.85%
FREE CASH FLOW
Cash From Operating Activities $7.100M
Capital Expenditures -$700.0K
Free Cash Flow $7.800M
YoY Change 387.5%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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dei Document Fiscal Year Focus
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dei Amendment Flag
AmendmentFlag
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dei Document Type
DocumentType
10-Q
dei Entity Central Index Key
EntityCentralIndexKey
0000902791
dei Entity Filer Category
EntityFilerCategory
Accelerated Filer
dei Trading Symbol
TradingSymbol
BBSI
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
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dei Current Fiscal Year End Date
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--12-31
dei Entity Registrant Name
EntityRegistrantName
BARRETT BUSINESS SERVICES INC
us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 18pt"> <b>Reclassifications</b></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt; TEXT-INDENT: 4%"> Certain prior year amounts have been reclassified to conform with the 2015 presentation. Such reclassifications had no impact on the Company&#x2019;s financial condition, operating results, cash , working capital or stockholders&#x2019; equity.</p> </div>
us-gaap Weighted Average Number Of Shares Outstanding Basic
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dei Document Period End Date
DocumentPeriodEndDate
2015-06-30
us-gaap Use Of Estimates
UseOfEstimates
<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 18pt"> <b>Accounting estimates</b></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt; TEXT-INDENT: 4%"> The preparation of our consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting periods. Management bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Estimates are used for carrying values of marketable securities, allowance for doubtful accounts, deferred income taxes, carrying values for goodwill and property and equipment, accrued workers&#x2019; compensation liabilities and safety incentive liabilities. Actual results may or may not differ from such estimates.</p> </div>
us-gaap Line Of Credit Facility Commitment Fee Description
LineOfCreditFacilityCommitmentFeeDescription
The Agreement also provides for an unused commitment fee of 0.35% per year on the average daily unused amount of the revolving credit facility, and a fee of 1.75% of the face amount of each letter of credit.
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